Economy

The statement made it clear that there is no policy under consideration to include temple-owned gold in any government programme.

In the national capital, petrol now costs Rs 98.64 per litre, up from Rs 97.77, while diesel prices climbed to Rs 91.58 per litre from Rs 90.67, as per industry sources to PTI.

Petrol and diesel prices were raised by 90 paise per litre on Tuesday, marking the second increase in fuel rates in less than a week. The latest hike follows a sharp Rs 3 per litre increase implemented last Friday.

Brent crude fell below $110 a barrel after gaining 2.6% in the previous session, while West Texas Intermediate for July traded below $103.

India's push to conserve cooking gas supplies amid the Iran war is curbing alkylate exports, tightening California's fuel market and adding pressure on already elevated gasoline prices, according to a Reuters report.

While India is above all the thresholds currently, it would fall below the 10th percentile threshold if the estimates on the BoP play out.

India does not have one informal economy. Different states face completely different bottlenecks.

Sujata Sharma, joint secretary in the petroleum ministry, said Russian crude imports will continue irrespective of US waiver decisions, citing energy security and stable commercial supplies.

Analysts also believe the government is deliberately opting for phased fuel hikes to avoid a sharp spike in retail inflation and minimise second-order effects on consumption.

The ministry has also directed these institutions to progressively phase out petrol- and diesel-powered hired vehicles and adopt electric vehicles over time as part of broader cost-control and sustainability efforts.

Under-recoveries suffered by OMCs have reduced from around Rs 1,000 crore per day earlier to Rs 750 crore per day after the recent increase in fuel prices.

US President Donald Trump made over 3,700 trades in Q1, including shares in Nvidia, Amazon, Apple, and a $600 million conveyor belt sushi chain, Kura Sushi USA.

Japanese PM Sanae Takaichi has requested the finance ministry to prepare a supplementary budget to address rising commodity prices amid the Middle East conflict.

Addressing a joint press meet alongside Prime Minister Narendra Modi and Swedish PM Ulf Kristersson, von der Leyen said the EU and India remain committed to signing and implementing the landmark trade agreement within 2026.

Speaking to NDTV Profit, Freris said the current crisis could accelerate the creation of alternative export routes, making Hormuz "irrelevant in about a year."

In the national capital, petrol is still selling at Rs 97.77 per litre, while diesel is priced at Rs 90.67 per litre. Rates are comparatively steeper in Mumbai, where petrol is being sold at Rs 106.68 per litre and diesel at about Rs 93.14 per litre.

Brent crude advanced above $110 a barrel after gaining nearly 8% last week, while West Texas Intermediate approached $107.

The United States has failed to offer any concrete concessions, in response to Iran's proposed agenda for ending the war, Tehran's semi-official Mehr news agency reported.

Both leaders underlined the need to combine complementary strengths, with Modi highlighting India's scale and growth momentum alongside Dutch leadership in high-technology and innovation-driven sectors.

Prime Minister Narendra Modi is visiting Sweden for the first time since 2018, with trade, defence, technology and strategic cooperation expected to dominate discussions.